Amazon and Microsoft lead the global cloud market in the beginning of 2025
Metal Market Faces Less Demand with Sluggish EV Growth in 2024
By Shubhendra Anand , 26 February, 2025
Metal Market Insights
In the era of electric vehicles (EVs), the metal market anticipates growing exponentially in 2024. However, electric vehicle sales fail to affect the metal market. Earlier, the experts' predictions stated that electric vehicles could boost the metal market. Unlike the automotive market's anticipation of electric cars as game changers, its demand is declining gradually. The electric vehicle sales are decreasing despite the transition in the energy sector. The advantage of electric vehicles in the energy sector is their lower carbon footprints.
Green energy transformation aims at net zero emissions by 2050 globally to tackle climate change. The metal market is in a state of uncertainty due to sluggish electric vehicle sales in 2024. In the metals market, essential metals like nickel, cobalt, lithium, and others are performing below expectations. Further, electric vehicle growth in sales is declining due to several factors. The lack of charging infrastructure and the high costs of electric vehicles are affecting the sales of EVs. Therefore, the downward trend of electric cars in the automotive market directly impacts the metal market.
Surveys show that electric vehicles are facing decelerating growth in the automotive market. Hence, the demand for metals like lithium, nickel, and cobalt dropped significantly from the beginning of 2024. China is facing multiple issues in the automotive market, such as EV sales falling in 2024, and further, it is affecting China’s metal market, too. The main reason behind reducing demand for metals is uncertainty in electric vehicles. Therefore, China faces a surplus of electric cars as the market slows. Experts claim that EV sales will face these situations until the charging infrastructure improves and electric vehicle prices are affordable. Moreover, it will affect the metal market in 2024.
Metals trend in the market for 2024:
Latest News
Amazon and Microsoft lead the global cloud market in the beginning of 2025
The leaders in the global cloud infrastructure market, AWS and Microsoft, Azure, still dominate the sector with a market share of 31 percent and 20 percent, respectively, in 2025. While the competition is growing fiercer and cloud computing focused…
India’s Power Surge: Electricity Demand to Soar 6.3 percent Annually Through 2027, Says IEA
Driven by fast economic development and a rising need for electrification, India's energy consumption is expected to rise at an average annual rate of 6.3 percent from 2025 through 2027 (International Energy Agency, IEA). Mostly driven by a jump in…
Japan Resumes Nuclear Energy Projects Following a Shift Towards Clean Energy Transition in 2025
Japan has made a remarkable amendment to its energy policy, indicating an increased emphasis on nuclear energy in 2025. It plans to achieve a 20% share of nuclear energy in electricity generation by 2040, a complete reversal from its post-Fukushima…
UK Seeks Renewable Energy Boost: Energy Secretary Ed Miliband to Visit China in 2025
Energy Secretary Ed Miliband will visit China from March 17 to 19, 2025, to boost the United Kingdom’s (UK) renewable energy initiatives. This visit aims to revive the UK-China Energy Dialogue, excluding nuclear power, via clean and sustainable…
Semiconductors Powering the Future: Fostering Renewable Resources Growth Amid Complexity in Supply Chains
In 2025, the global semiconductor industry is set to boom as sales are projected to increase by 15 percent, reaching nearly USD 721 billion. This growth is prominent in both the technological region and the aiding toward the clean energy shift.
With…
Shubhendra Anand
Head Research
Latest News
India’s Power Surge: Electricity Demand to Soar 6.3 percent Annually Through 2027, Says IEA
Japan Resumes Nuclear Energy Projects Following a Shift Towards Clean Energy Transition in 2025
UK Seeks Renewable Energy Boost: Energy Secretary Ed Miliband to Visit China in 2025
Semiconductors Powering the Future: Fostering Renewable Resources Growth Amid Complexity in Supply Chains
